True/False: Personal Finance

Credit is a means of buying something now and paying for it later (usually with interest).

• True

• False

Income is money that you earn from working or gain from investments.

• True

• False

A credit card does NOT charge interest, while a debit card does charge interest.

• True

• False

Interest is a fee paid to use someone else’s money.

• True

• False

Currency (cash) is a form of money.

• True

• False

A loan is a medium of exchange to buy goods.

• True

• False

A debit card is a form of credit.

• True

• False

Real Estate is a form of investing.

• True

• False

A credit card is a form of money.

• True

• False

A plan for saving and spending income is a budget.

• True

• False